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Terms & Conditions
This website is only directed at investors based in the Hong Kong Special Administrative Region ("Hong Kong"). Persons resident in territories other than Hong Kong should not access this website.
This website only includes information on those funds that are authorized in Hong Kong pursuant to section 104 of the Securities and Futures Ordinance. Authorization does not imply official approval or recommendation.
This website has not been reviewed by the Hong Kong Securities and Futures Commission.
Please read the following important information and confirm that you agree to the terms and conditions of this website (these "Terms") and that you are resident in Hong Kong. If you do not agree with these Terms, please do not use this website.
I confirm that I have read and accept these Terms and that I am resident in Hong Kong.
Introduction
1.0 A brief introduction about this website
The following information is important and is for your protection. This website is for information purposes only and does not constitute an offer to sell or a solicitation or an offer to buy any security that may be referenced on or through this website. Nor does this website constitute an offering or recommendation by Legg Mason International Distribution, a division within Legg Mason Asset Management Hong Kong Limited or any of its affiliates described herein of any security, investment management service, or advisory service. No investment advice, tax advice, or legal advice is provided through this website, and you agree that this website will not be used by you for these purposes. No representation is given that the securities, products, or services discussed on or accessible through this website are suitable for any particular investor. You acknowledge that your use of this website and requests for information are unsolicited, and the provision of any information through this website shall not constitute or be considered investment advice, or an offer to sell, or a solicitation of an offer to buy any security.
This website should not be considered as communicating any invitation or inducement to engage in investment activity.
1.1 Who is the operator of this website?
This website is owned and operated by Legg Mason International Distribution, a division within Legg Mason Asset Management Hong Kong Limited ("Legg Mason International Distribution"), which is a wholly owned subsidiary of Legg Mason, Inc. ("Legg Mason"), a U.S. based financial services holding company that is listed and traded on the New York Stock Exchange. All information on this site is approved for publication by Legg Mason International Distribution, whose registered office is located at 12/F, York House, The Landmark, 15 Queen's Road Central, Hong Kong. Legg Mason Asset Management Hong Kong Limited is licensed by the Securities and Futures Commission ("SFC") to conduct various regulated activities in Hong Kong.
Legg Mason International Distribution reserves the right to grant or revoke the authority of any person to use this website at its absolute discretion.
General terms and conditions of using this website
2.0 What funds are covered by this website?
The funds covered by this website include (but is not limited to) the following:
- Legg Mason Global Funds plc
- Legg Mason Global Funds FCP (Luxembourg)
- Legg Mason Portfolios
- Western Asset Liquidity Fund plc
- Legg Mason Funds (Cayman) Limited
Legg Mason International Distribution does not claim that the funds described herein or any products or services referenced on this website may be offered in any particular jurisdiction or is suitable for any particular investor.
2.1 Does this website describe Legg Mason's investment management capabilities?
Yes. This website also covers information on various investment managers that are subsidiaries of Legg Mason, including: Royce & Associates, LLC ("Royce and Associates"), Legg Mason Capital Management, Inc. ("Legg Mason Capital Management"), Western Asset Management Company, Western Asset Management Company Pte. Ltd and Western Asset Management Company Limited (collectively, "Western Asset"), Batterymarch Financial Management, Inc. ("Batterymarch"), Brandywine Global Investment Management, LLC ("Brandywine"), Global Currents Investment Management ("Global Currents"), Private Capital Management ("PCM"), ClearBridge Advisors, LLC ("ClearBridge"), Esemplia Emerging Markets, the trading name of Legg Mason International Equities Limited, Congruix Investment Management (a registered business of Legg Mason Asset Management Singapore Pte. Limited) and Legg Mason Hong Kong (operating under both Legg Mason Asset Management Hong Kong Limited and Legg Mason International Equities (Hong Kong) Limited).
Each of the investment management companies referred to above is affiliated with Legg Mason International Distribution through common control and ownership by Legg Mason. Legg Mason International Distribution provides its clients with access to such affiliates primarily through its Irish, Luxembourg and Cayman domiciled funds, in which such affiliates serve as investment manager or sub-investment manager. While some of the affiliates are authorised or licensed to conduct business in one or more Asian jurisdictions, they are not authorised to offer their investment advisory services in all Asian jurisdictions.
2.2 What do I need to know about the accuracy of information contained within this website?
Legg Mason International Distribution believes that the information contained and opinions expressed in this site are accurate as at the date of publication. However, no warranty is made by Legg Mason International Distribution in respect of the information contained in this website. The fund prices contained in this website are indicative only and should not be relied upon for dealing purposes.
2.3 Does this website offer financial advice?
No. Nothing contained within this website should be construed as investment advice. An investment in any of the funds mentioned in this website may not be suitable for all investors. We strongly recommend that you seek independent financial advice before making any investment decisions. Investment in any of the products outlined in this website should only be made on the basis of the relevant Hong Kong offering document.
2.4 What are the general risk factors I should be aware of before accessing information on this website?
- Investment involves risks.
- Past performance is no guide to future returns. Please note that the price of units or shares and the income from them can fall as well as rise and you may not get back the amount originally invested.
- The value of your investment and any income from it can fall as well as rise and you may not get back the amount you have invested.
- Exchange rate fluctuations may affect the value of an investment and any income derived from it.
- If you exercise any right to cancel, you may not get back the amount initially invested if the unit or share price has fallen since you invested.
- Deductions for charges and expenses, particularly the initial charge, are not made uniformly throughout the life of the investment, so if you redeem out of the investment during the early years, you may not get back the amount invested.
- There can be no guarantee that the tax position or proposed tax position prevailing at the time of an investment will not change.
- Dividends and capital gains on securities issued in the relevant funds may be subject to withholding taxes imposed by the countries in which each particular fund invests.
The investment decision is yours but you should not invest unless the intermediary who offers you the funds has advised you that the funds are suitable for you and has explained why, including how the investment will be consistent with your investment objectives.
You must read the relevant Hong Kong offering document of the fund for all the relevant risk factors pertaining to that investment.
Investors should print or obtain and retain a copy of the latest Hong Kong offering document of the fund the investor is investing in. The latest Hong Kong offering document of the funds referred to on this website may be obtained from the registered office of Legg Mason International Distribution in Hong Kong.
2.5 Are the range of funds on this website available to "US Persons" or other persons?
No. The funds referred to on this website are not registered as investment companies in the United States under the U.S. Investment Company Act of 1940, as amended, and the shares of such funds are not registered under the U.S. Securities Act of 1933, as amended ("Securities Act"). Shares of the funds are not available for purchase by "US persons" as that term is defined under Regulation S of the Securities Act. The information provided on this website is not intended for distribution to, or use by, any person or entity in the United States, or in any jurisdiction or country where such distribution or use would be contrary to any law or regulation, or which would subject any of the funds described herein, Legg Mason International Distribution (including its affiliates) or any of their products or services to any registration, licensing or other authorisation requirement within such jurisdiction or country.
Nothing on this website shall be considered a solicitation to buy or sell a security, product or service (including advisory service) to any person.
Legg Mason International Distribution does not claim that the funds described herein or any products or services referenced on this website are available in any particular jurisdiction or appropriate for any particular investor. If you choose to access this website from a location other than Hong Kong, you do so without invitation and on your own initiative, and you are responsible for compliance with any applicable local laws and regulations.
2.6 Does this website include content from third party providers other than Legg Mason and its subsidiary companies?
Yes. Through this website, you may have access to market data such as news reports, third-party analyst reports, research, last sale transaction data, securities price quotations, and other information relating to securities and the securities markets ("Market Data"). Legg Mason International Distribution may obtain such Market Data from third parties who are independent of Legg Mason International Distribution. Even though the sources of the Market Data provided on this website are believed to be reliable, Legg Mason International Distribution is not responsible for, and makes no warranty with respect to the contents, accuracy, completeness, timeliness, suitability, reliability, merchantability or fitness for any particular purpose of the Market Data.
The Market Data is provided on "as is" and "as available" bases. Legg Mason International Distribution will not be responsible for lost profits, trading losses, or any other damages resulting from inaccurate, defective, or unavailable Market Data or other information. Legg Mason International Distribution is not obligated to update or to continue to offer Market Data or other information accessible through this website.
Any Market Data and other information accessible through this website is for personal, non-commercial use. You agree not to reproduce, modify, sell, distribute, broadcast, publish or use for any commercial or unlawful purpose any Market Data or other information you access through this website.
2.7 Important information about liability
Limitations of liability — Legg Mason Asset Management Hong Kong Limited (and Legg Mason International Distribution as a division within Legg Mason Asset Management Hong Kong Limited) makes no warranty or representation that the website can be accessed at all times. The website may, without notice, be temporarily unavailable or restricted for administrative or other reasons. Neither Legg Mason Asset Management Hong Kong Limited (and Legg Mason International Distribution as a division within Legg Mason Asset Management Hong Kong Limited) nor any of its affiliates, directors, officers or employees will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this website, or resulting from the act or omission of any person involved in making this website or the data contained on this website available to you, or from any other cause relating to your access to, inability to access, or use of this website or the information or materials contained or referred to on this website, whether or not the circumstances giving rise to such loss or damage is within the control of Legg Mason Asset Management Hong Kong Limited (and Legg Mason International Distribution as a division within Legg Mason Asset Management Hong Kong Limited) or its affiliates.
You will indemnify Legg Mason Asset Management Hong Kong Limited (and Legg Mason International Distribution, as a division within Legg Mason Asset Management Hong Kong Limited) (including its affiliated or associated companies) and their officers, directors, employees and agents in respect of any third party claim for any injury, loss, damage or expense occasioned by or arising directly or indirectly from the operation, use or supply of information to a third party provided in breach of any of your obligations under these Terms.
You acknowledge that messages sent over the Internet cannot be guaranteed to be completely secure. If you transmit any communication through this website to Legg Mason International Distribution directly or through any third party internet or other service provider, you shall be responsible and liable for any unauthorized access, errors, omissions or failures that may be made while transmitting or receiving communications using this website. This website is not designed for the transmission of time sensitive instructions - this means that if you use this website to transmit time sensitive instructions, you will be responsible and liable for any loss that may arise, and you transmit such time sensitive information at your own risk.
2.8 Intellectual property
Unless otherwise indicated, Legg Mason International Distribution owns the copyright and any other intellectual property rights subsisting anywhere in the world to the information on this website. You may not copy, reproduce, duplicate, modify, adopt or lend, sell, disseminate or otherwise transfer, in whole or in part, any of the information, contained in the website, except for the purpose of accessing the site and producing print-outs for your own personal use.
2.9 Linked Websites
We do not recommend or endorse and accept no responsibility for the content of any website not operated by Legg Mason International Distribution which you may visit by following a link from this website. No other website, without the prior written permission of Legg Mason International Distribution is authorised to link to any part of this website.
In particular, Legg Mason International Distribution and its affiliates are in no way responsible for the content of any website, owned or operated by a third party, that may be linked to this website via hyperlink, whether such hyperlink is provided by Legg Mason International Distribution, its affiliates or by a third party. Unless, and to the extent, the linked website is owned or operated by Legg Mason International Distribution or its affiliates, the information to which the user links is neither prepared nor maintained by Legg Mason International Distribution or its affiliates, and Legg Mason International Distribution and its affiliates have not and will not review or update the information contained in any such linked website. Legg Mason International Distribution and its affiliates are not responsible for, and makes no warranty with respect to the contents, accuracy, completeness, timeliness, suitability, or reliability of such linked website. Use of any website hyperlinked to or from this website shall be at your own risk.
Other information
3.0 Changes to content within the website
We reserve the right, in our sole discretion, to change, modify, add or remove portions of these Terms at any time without notice to website users. Similarly, we reserve the right, in our sole discretion, to change, modify, add or remove the content of this website. You must check these Terms periodically for changes. Any changes, modifications, or additions to, or deletions from these Terms shall be effective upon posting on this website. If you access this website after we have posted changes to the Terms, you accept the Terms as changed.
3.1 Privacy policy and data protection
Your privacy is very important to Legg Mason International Distribution. To the extent any information you provide or which we obtain from this website constitutes personal data, we have set procedures for the use of that information.
Failure to supply such personal data may result in your inability to use or access this website, or parts of this website.
Please note that if you telephone Legg Mason International Distribution, calls may be monitored or recorded to maintain and improve services.
You consent to the processing by Legg Mason International Distribution of the personal data submitted by you through the website and/or created in the course of the business relationship with Legg Mason International Distribution, and to the use of your personal data for purposes connected with marketing and customer administration, and to the transmission of such personal data to other companies within the Legg Mason Group (by the internet or otherwise, and within, or to a place outside of, Hong Kong). If you do not wish your information to be used in this way, you should advise Legg Mason International Distribution by e-mail or in writing.
You are entitled under the Personal Data (Privacy) Ordinance of the laws of Hong Kong ("Ordinance") to check whether Legg Mason International Distribution holds personal data about you and request access to such personal data, request Legg Mason International Distribution to correct any personal data relating to you which is inaccurate, and ascertain Legg Mason International Distribution's policies and practices in relation to personal data and be informed of the kind of personal data held by Legg Mason International Distribution. In accordance with the terms of the Ordinance, Legg Mason International Distribution has the right to charge a reasonable fee for processing any data access request.
All requests for access to or correction of personal data or for information regarding the policies and practices and kinds of data held by Legg Mason International Distribution, should be addressed to:
Data Protection Officer
Legg Mason Asset Management Hong Kong Limited
12/F., York House, The Landmark
15 Queen's Road Central
Hong Kong
3.2 Cookies
Legg Mason International Distribution uses cookies for collecting user information from certain pages of this website. A cookie is a file that is stored on the hard disk of a computer by the web browser on a computer. It contains information sent by the website that a user has visited. A cookie identifies users and can store information about them and their use of a site. Legg Mason International Distribution uses cookies to keep track of user activity and allows Legg Mason International Distribution to identify which areas of the website are more interesting to the usersso that improvements can be made to this website.
Legg Mason International Distribution expressly reserves the right to monitor any use of this website.
Governing Law
4.0 Governing Law and severability
These Terms will be governed by and construed under the laws of Hong Kong and you submit to the non-exclusive jurisdiction of the Hong Kong courts. If any part of these Terms is held invalid or unenforceable, that part will be deemed modified as necessary to make it effective, and the remaining provisions of these Terms will remain in full force and effect.
Issued and approved by Legg Mason Asset Management Hong Kong Limited, which is licensed by the Securities and Futures Commission in Hong Kong, and whose registered office is at 12/F, York House, The Landmark, 15 Queen's Road Central, Hong Kong.